Solid Half-year For Australian Land And Online Gambling Group

SOLID HALF-YEAR FOR AUSTRALIAN LAND AND ONLINE GAMBLING GROUP

18th February, 2016 at 09:17:09
Source: http://www.azonlinecasinos.com

Tatts reports a 6.2% rise in net profit after tax as digital shows the way.

Australian land and online gambling giant Tatts Group has reported on its fiscal second quarter results, posting a 6.2% rise in NPAT (net profit after tax) to AU$147.9 million, thanks mainly to good results from its online wagering and lottery units.

Highlights reported by the group included:

* Revenue up 6.5% to A$1.6 billion;

* Online lotteries revenue up 9.6% to AU$1.11 billion with a 35% growth rate;

* Double-digit growth in the new UBet brand at over 50 wagering points;

* Wagering division turnover up 3% to A$2.14 billion, although revenue was down 4% at A$326 million;

* 29% of wagering sales now generated online;

* Tatts Group websites attracted an average 3.5 million visits per month, and the company's apps have been downloaded to over 1 million mobile devices, a very substantial rise from the previous year;

* Digital wagering sales up 20.2 percent;

* Interim dividend of 9.5 cents a share has been decided.

Chief executive officer Robbie Cooke said in a statement: "The momentum we are gaining from these digital initiatives in both our lotteries and wagering operations is truly exciting."

Giving a trading update, Cooke revealed that the first six seeks of the second quarter had delivered strong performances all round.

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